Income tax, state; career and technical education equipment tax credit. (HB1480)

Introduced By

Del. Dave Nutter (R-Christiansburg) with support from co-patron Sen. Bill Carrico (R-Grayson)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Income tax; career and technical education equipment tax credit. Provides a corporate and individual income tax credit for approved and accepted donations of career and technical equipment to Virginia's public school systems. The credit, available for taxable years beginning on or after January 1, 2007, will be 50% of the assessed value of the equipment but may not exceed that taxpayer's tax liability. It may be carried over for 5 years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/19/2006Presented and ordered printed 065734436
01/19/2006Referred to Committee on Finance
01/24/2006Assigned to Finance sub-committee: #3 (Ware, R.L.)
02/06/2006Fiscal impact statement from TAX (HB1480)
02/15/2006Left in Finance